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Caution Investors Echoin Ltd – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Echoin Ltd is a company that claims to offer a platform for investing in cryptocurrency and blockchain projects. The company claims to have a team of experts who can help investors find the best opportunities and maximize their returns. However, the company has been flagged by the Austrian Financial Market Authority (FMA) as an unauthorized provider of banking services. This means that the company is not regulated or licensed to operate in Austria, and investors should be wary of dealing with them.
Regulation and Compliance:
According to the FMA, Echoin Ltd is not authorized to carry out banking transactions in Austria that require a license. The FMA states that the company is not permitted to trade on a commercial basis on its own account or on behalf of others, which is a violation of Article 1 para. 1 no. 7 of the Austrian Banking Act (BWG; Bankwesengesetz). The FMA also warns that the company may be involved in fraudulent or illegal activities, and advises investors to exercise caution and check the legitimacy of any provider before entering into any transactions.
There are not many customer reviews available for Echoin Ltd online. The few reviews that can be found are mostly negative, with complaints about poor customer service, delayed withdrawals, hidden fees, and loss of funds. Some customers also claim that the company is a scam and that they have been unable to contact them or get their money back. There are no positive reviews or testimonials from satisfied customers on the company’s website or social media accounts.
Products and Services:
Echoin Ltd claims to offer a variety of products and services related to cryptocurrency and blockchain investing. The company claims to have a platform that allows investors to access various projects, such as initial coin offerings (ICOs), decentralized applications (DApps), and smart contracts. The company also claims to provide investors with tools and resources, such as market analysis, portfolio management, risk assessment, and education. However, the company does not provide any details or evidence about how these products and services work, or what benefits they offer to investors.
Echoin Ltd does not disclose its physical location or address on its website or other channels. The company only provides an email address and a web form for contacting them. The company’s domain name was registered in June 2021, and the registrant’s information is hidden by a privacy service. The company’s website also does not have any information about its legal status, ownership, or registration.
Echoin Ltd does not have a good reputation for customer service. Many customers have reported that they have been unable to reach the company by email or phone, or that they have received no response or assistance from the company. Some customers have also reported that they have been blocked or ignored by the company after raising issues or requesting refunds. The company does not have a live chat feature or a phone number on its website.
Echoin Ltd is a company that claims to offer a platform for investing in cryptocurrency and blockchain projects. However, the company has been flagged by the FMA as an unauthorized provider of banking services in Austria, and may be involved in fraudulent or illegal activities. The company does not have a good reputation for customer service, transparency, or reliability. Investors should be very careful when dealing with this company, and avoid entering into any transactions with them.